Viridium Group

Protektor Lebensversicherungs-AG, established in 2002 and headquartered in Berlin, Germany, functions as a rescue company created by German life insurers to safeguard policyholders. The company operates as the Guarantee Scheme for the German life insurance sector, ensuring that policyholders are protected against the fallout of insolvencies within life insurance companies. It maintains the policies of affected insurers, ensuring that pension payments, term coverage, and previously granted profit shares remain intact. In May 2006, Protektor assumed the responsibilities of a statutory guarantee fund established by law in 2004, managing portfolios from struggling insurers transferred by the Federal Financial Supervisory Authority. Protektor’s role is to rehabilitate the insurance portfolios of troubled firms rather than to rescue companies on the verge of insolvency. The company is backed by life insurance firms operating under German law and is a member of the German Insurance Association. In 2017, Protektor transferred its managed business to another life insurer after successfully rehabilitating the portfolio of Mannheimer Lebensversicherung AG.